Betfair – world’s leading betting exchange The company, based in Great Britain, is operated by Sporting Exchange Limited. The company was established in 1999 and has licenses in England, Wales and Australia. The term betting exchange means that users bet against other users without the involvement of a bookmaker. Betters can either offer their own odds or accept the odds offered by others. The range of sports bets is especially comprehensive: you’ll find bets on football (soccer), tennis, winter sports, martial arts, boxing, handball, motorsports, cycling, rugby, baseball, basketball, hockey, and American as well as Australian football.